CapitaLand China Trust posts 3.1% drop in H1 DPU to S$0.041

CAPITALAND China Trust (CLCT) on Tuesday (Jul 26) posted a 3.1 per cent year-on-year drop in H1 DPU to S$0.041 after opting to retain S$3.6 million of the amount available for distribution for financial flexibility.

Excluding the amount retained, DPU would have been 2.1 per cent higher on the year at S$0.0432, the real estate investment trust (Reit) manager said.

“The retention is more because, as we close the books in the first half, things are just going back… There’s still that element of uncertainty,” Tan Tze Wooi, chief executive of CLCT’s manager, said at a briefing accompanying the result announcement. “Although we see things are improving, because of China’s zero Covid policy, there will be a bit of this recurring or sporadic restrictive measures in place on our business.”